What Will Franchising Look Like After the Recession?
In franchising, most savvy companies know how to deal with seasonality, employee turnover, even market and economic fluctuations. But few if any franchise systems have had to face the breadth and depth of the economic impacts nor the uncertainty that the COVID-19 pandemic created.
However, it’s not all bad news for the franchise community.
In an article in Entrepreneur magazine, Mark Siebert discusses what the future of franchising will be as shutdown orders are lifted and businesses re-open. He predicts a resurgence in franchise sales, and ties that resurgence to three key factors: people, capital and resources.
Siebert explores what’s on the horizon for franchise sales in the coming months, and provides advice for franchisors as they adjust to a “new normal,” where increased demand from franchise buyers will require companies to be strategically and operationally prepared for what lies ahead.